Pakistan and ADB Sign $500 Million Loan Agreement for Climate Resilience

Islamabad: Pakistan and the Asian Development Bank (ADB) have signed a significant $500 million loan agreement aimed at enhancing the country’s resilience to climate change and natural disasters. The agreement, part of the ‘Climate and Disaster Resilience Enhancement Program,’ was formalized during a ceremony held in Islamabad.

According to Ministry of Information and Broadcasting, the agreement was signed by Dr. Kazim Niaz, Secretary of the Ministry of Economic Affairs, and Ms. Emma Fan, Country Director of the Pakistan Resident Mission at the Asian Development Bank. Federal Minister Ahad Cheema highlighted that the agreement illustrates Pakistan’s commitment to advancing climate change initiatives and improving disaster risk financing through a risk-layered strategy.

Dr. Niaz and Ms. Fan noted that the program adopts a programmatic approach designed to bolster Pakistan’s capacity for climate change adaptation and disaster risk management. They emphasized that the initiative will tackle the nation’s vulnerabilities to natural disasters and climate impacts.

The program’s primary goal is to strengthen institutional frameworks for disaster risk management. This will be achieved by enhancing disaster risk mapping, improving response coordination, and making gender-sensitive public investments.

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